Portland, OR, Sept. 05, 2022 (GLOBE NEWSWIRE) — According to the report revealed by Allied Market Research, the worldwide electrical scooter and bike market generated $35.3 billion in 2021, and is projected to achieve $93.9 billion by 2031, rising at a CAGR of 10.2% from 2022 to 2031. The report presents an in depth evaluation of the highest successful methods, evolving market traits, market measurement and estimations, worth chain, key funding pockets, drivers & alternatives, aggressive panorama, and regional panorama. The report is a helpful supply of knowledge for brand new entrants, shareholders, frontrunners, and shareholders in introducing vital methods for the longer term and taking important steps to considerably strengthen and heighten their place out there.
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Report protection & particulars:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $35.3 billion |
Market Size in 2031 | $93.9 billion |
CAGR | 10.2% |
No. of Pages in Report | 381 |
Segments Covered | Vehicle Type, Battery Type, Range, Power, Vehicle Class, Usage, And Region |
Drivers | Increase in the usual of residing |
Significant surge in gas costs | |
Opportunities | Increase in inclination towards e-bikes as an eco-friendly & environment friendly resolution for commute complement |
Rise in authorities investments and initiatives towards electrical mobility | |
Restrains | Extortionate the preliminary value of e-bikes |
Ban on use of e-bikes in varied cities |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a unfavourable affect on the expansion of the worldwide electrical scooter and bike market, owing to the incidence of lockdowns in varied international locations throughout the globe.
- Lockdowns resulted within the closure of assorted manufacturing services, together with these of electrical scooters and bikes, which adversely impacted their demand throughout the pandemic.
- In addition, there was a brief ban on the import and export of things which made it troublesome for the producers to amass the required uncooked supplies.
- This was majorly as a result of stringent social distancing restrictions imposed by the federal government to considerably curb the unfold of the virus throughout the pandemic. However, the market is anticipated to recoup with the presence of remunerative investments.
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The report presents an in depth segmentation of the worldwide electrical scooter and bike market primarily based on car sort, battery sort, vary, energy, car class, utilization, and area.
Based on car sort, the e-scooter/moped phase held the dominating market share in 2021, holding greater than four-fifths of the worldwide market, and is anticipated to take care of its management standing throughout the forecast interval. The e-motorcycle phase, then again, is anticipated to quote the quickest CAGR of 17.9% throughout the forecast interval.
Based on vary, the lower than 75 miles phase held the dominating market share in 2021, holding practically three-fifths of the worldwide market, and is anticipated to take care of its management standing throughout the forecast interval. The greater than 100 miles phase, then again, is anticipated to quote the quickest CAGR of 13.0% throughout the forecast interval.
Based on car class, the economic system phase held the dominating market share in 2021, holding practically three-fourths of the worldwide market, and is anticipated to take care of its management standing throughout the forecast interval. The luxurious phase, then again, is anticipated to quote the quickest CAGR of 13.8% throughout the forecast interval.
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Based on area, the market throughout the Asia-Pacific area held the most important market share in 2021, holding greater than three-fifths of the worldwide market, and is anticipated to take care of its management standing throughout the forecast interval. The LAMEA area, then again, is anticipated to quote the quickest CAGR of 13.3% throughout the forecast interval.
The key gamers analyzed within the international electrical scooter and bike market report embody AIMA Technology Group Co. Ltd., Dongguan Tailing Electric Vehicle Co., Ltd., Energica Motor Co SpA, Govecs AG, Greaves Electric Mobility Private Limited, Harley-Davidson, Hero Electric, Jiangsu Xinri E-Vehicle Co., Ltd, KTM AG, Lightning Motorcycles, Okinawa Autotech Pvt. Ltd., Piaggio & C. SpA, Terra motors, TVS Motor Co Ltd, Vmoto restricted, Yadea Technology Group Co., Ltd., Zero Motorcycles, Inc.
The report analyzes these key gamers within the international electrical scooter and bike market. These market gamers have made efficient use of methods reminiscent of joint ventures, collaborations, enlargement, new product launches, partnerships, and others to maximise their foothold and prowess within the business. The report is useful in analyzing current developments, product portfolio, enterprise efficiency, and working segments by distinguished gamers out there.
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Allied Market Research (AMR) is a full-service market analysis and business-consulting wing of Allied Analytics LLP primarily based in Portland, Oregon. Allied Market Research gives international enterprises in addition to medium and small companies with unmatched high quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a focused view to offer enterprise insights and consulting to help its shoppers to make strategic enterprise choices and obtain sustainable development of their respective market area.
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